Fed trims rate as stocks slide amid holiday gloom
The Federal Reserve cut the federal funds rate by a quarter point to 4.25 percent, the third cut this year. Wall Street dumped shares, with the Dow sinking 294.26 points to 13,432.77 as investors hoped for a bigger move. Fed officials cited a housing slowdown and financial-market strains while signaling potential further cuts.
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Washington
Federal Reserve
Wall Street
Fed
Ben Bemanke
Central Bank
Federal Funds
Santa Bernanke
Scott Anderson
Wells Fargo Economics
Waite Ae
Federal
Kroger Hikes Third Quarter Profit. Fuel Margins Hit
Kroger Co reports a third quarter profit rise of 18 percent to 253.8 million or 37 cents a share, on strong sales but fuel margins shrink and shares fall nearly 7 percent. The results include a 40 million tax benefit offset by lower operating margins at 678 supermarket fuel centers and higher customer initiative costs. Executives say gas fluctuations are normal and the company remains focused on growth.
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Cincinnati
Kroger Co
Kroger
Goodyear project approved by Akron city, county leaders
Akron and Summit County officials vote unanimously for a $900 million plan to relocate Goodyear Tire and Rubber Co. home to the city. Akron will contribute about $100 million for roads and utilities. Summit County offers $15 million in tax breaks and a parking garage funding package.
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Akron
Goodyear Tire & Rubber Co
Summit County
Goodyear
Hom
U S and China sign food safety agreements
U S and Chinese officials signed pacts to strengthen screening of exports including canned vegetables pet foods raw materials and certain medicines. The deal requires registration and annual inspections while the U S will maintain an online list of exporters. Critics say the coverage is small and enforcement hinges on both sides.
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Shanghai
China
U.S
Washington
Sen
Richard J. Durbin
D-Ill
Beijing
Ing
Health and Human Services
Mike Leavitt
Ching
FDA
Fdas
Leavitt
United States
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Wu Yi
New China News Agency
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Associated Press
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Emh Regional Medical Center
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Elyria
Goodyear Project
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Los Angeles Times
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